I just looked at my credit report. My credit score is a little over 500. I have student loans which are being paid on time, and that's about it. I really want to get my credit score better and the only way i can think of doing this is to get a credit card. so i would like some advice on the best credit cards for just wanting to build up my credit and not go into depbt. I had a credit card about 10 years ago from bank of america and they increased my interest rate without giving me notice and i dont want to have to deal with that drama. i just want a credit card that i can use for maybe an emergency and to help with my horrible credit score.

It's funny that Capital One is recommended. It's not all that long since they were classified as subprime credit.

To build your credit score, you shouldn't pay your card off every month. Rather than a bunch of small purchases, buy something slightly bigger and pay it off over several months. Your credit score is based on your ability to manage credit, not your ability to never use it.

To be honest with you, you're not going to have your pick of credit cards with your credit score. You're also going to be given the highest rate possible. It sucks but it is what it is. If you can't get a regular credit card, look into a savings-secured card. It counts as a credit card on your credit report but your credit limit is limited to what you keep in savings.

I have been working on getting my score up and for the pass two years it hasnt moved up or down. I figured I wouldnt have the best options on the research I have already done. I see alot of things saying "repair your credit", but nothing on how to do it. I thought getting a credit card would give me revolving credit and that is want the credit score people likes to see and you are paying if off.

I'm not 100% how this building of ones credit really works. i always thought that if you had a credit card rather you use it or not, its looked on as a positive. My old credit card i used for emergencies until the jacked up my interest rate, then i just got rid of it. i didnt want to close it, but bank of america is the debil! I know closing a credit account is bad. right?

would it be bad to have a subprime credit card? once my score goes up i can apply for a better card and still keep that one open and use it maybe once a month for a small purchase?

I have been working on getting my score up and for the pass two years it hasnt moved up or down. I figured I wouldnt have the best options on the research I have already done. I see alot of things saying "repair your credit", but nothing on how to do it. I thought getting a credit card would give me revolving credit and that is want the credit score people likes to see and you are paying if off.

I'm not 100% how this building of ones credit really works. i always thought that if you had a credit card rather you use it or not, its looked on as a positive. My old credit card i used for emergencies until the jacked up my interest rate, then i just got rid of it. i didnt want to close it, but bank of america is the debil! I know closing a credit account is bad. right?

would it be bad to have a subprime credit card? once my score goes up i can apply for a better card and still keep that one open and use it maybe once a month for a small purchase?

Originally Posted by thelio

I wonder if there's something going on with your credit report that is affecting it negatively. You don't need to answer this here, but are there any old charge offs or collection items? Even if you had a couple late pays on an old credit card, they should have less impact on your score as time goes by, as long as you are current on other accounts. If you have student loans that you are paying on time, you should have a credit history with them. Are the student loans not being reported to the credit bureaus by the lender? There's something not right with your situation.

"Credit repair" is more or less a scam. It's for people that have horrible credit, due to heir own poor credit choices, who want to work the system. That's not what you need.

My suggestion is to get copies of your credit reports from all three bureaus and see if your credit scores are similar and all your accounts are being reported. I say that because some lenders only report to one or two bureaus, not all three. You'll also want to look at the reasons each of the bureaus list for your credit score. These should be at the top of page 1.

Regarding the credit card and prime versus subprime: Different types of loans and credit cards affect your score differently. An installment loan, such as a car loan, will affect your score the most. Pay it on time and your score will shoot up. Pay it late and you'll take a huge hit. Same goes with a credit card, except paying on time won't have as much of a positive effect. (Late pays still ding your score though.) If your credit card is from a "prime" lender, it will have a positive effect. If it's from a subprime lender, it "can" (not 100% of the time) have a negative effect. (e.g. "This person can't keep up with their bills so they'll take credit anywhere they can get it.")

Since your goal is to build your credit and raise your score, I would start where you currently bank because you need someone to work with you 1:1. Apply for a credit card there and see what they say. If they decline your application, they will send you a copy of your credit report and reasons why you were declined. They should also offer you resources for getting help with your situation. Either they can give you advice for improving your credit or they will refer you to a credit counseling service.

If Bank of America is where you currently bank, go somewhere else. I suggest a credit union.

I don't know anything about credit scores, but it seems to me to be so confusing because there really aren't any absolutes. Too many credit cards hurts your score, and too few credit cards hurt your score! Paying your credit card off every month doesn't help your score, but having too much on your card doesn't help either!

It seems like you should have a couple cards, and carry a balance that you pay down over a period of time (not monthly) on at least one card, to help your credit the most. But I really have no idea.

"I don't know! I don't know why I did it, I don't know why I enjoyed it, and I don't know why I'll do it again!" -BART SIMPSON

about ten years ago, maybe less, my mom did steal my identity and got some stuff in my name. I resolved it maybe five years ago when i discovered it. its still shows on my report. i'm not sure if that's a good thing or bad thing. i dont have my credit report in front of me right now but i can report back.

i did have a credit card but closed it because i didnt want to deal with bank of america anymore. i now bank with pnc. i also want a credit card from a company that will contact me if they make any changes. i'm going to contact my bank and see what they tell me.

i have been keeping up with my students loans for the pass couple years since i have been working. does consalidating students loans count as a positive or a negative?

But if your mom stole your identity, you can challenge those items on your report. Write letters to the three companies explaining this, and the companies may remove those items from your mom.

My identity was stolen when I was 12. When I opened my first bank account, I was denied due to bad credit. Someone got an apartment with my social and never paid the rent. The court ruling was on my report. I wrote the companies, and it disappeared. It was like it never happened.

My credit score is quite high. I pay my bills on time or early. I have several credit cards and I have owned multiple cars and paid them all off one way or another. I pay off my cards every few months and then charge them up again (never maxed out though). I also have student loans, and pay the bills on time. The only ding against me is I don't have any assets (e.g., property).

thanks Mrs. poppers!

about ten years ago, maybe less, my mom did steal my identity and got some stuff in my name. I resolved it maybe five years ago when i discovered it. its still shows on my report. i'm not sure if that's a good thing or bad thing. i dont have my credit report in front of me right now but i can report back.

i did have a credit card but closed it because i didnt want to deal with bank of america anymore. i now bank with pnc. i also want a credit card from a company that will contact me if they make any changes. i'm going to contact my bank and see what they tell me.

i have been keeping up with my students loans for the pass couple years since i have been working. does consalidating students loans count as a positive or a negative?

Is it too late for me to challenge the things my mom did? She has paid them off since then, but its still on my report. it says it went to collections, but it was resolved. if i had known what she did 10 years ago i would had throw her jail! but now she has done a 180 and gotten help and is doing 100% better. I dont want to get her in trouble now for what she did 10 years ago.

oh and the things she got in my name were (i'm rounded off amount owned):

when i was a youngun she used my name for gas and electric. she didn't pay it so now i'm stuck using her last name instead of my birth fathers. i could probably go back to my father's name but i've been using my name for so long, what's the point? i watch Shameless and think," Holy poop! those are my parents!"